No, it's no down ramping guy. I base my prediction (that's what it was) based on 1 factor :
After nice run to 0.14 many shareholders paid 0.09 in CR. Many were expecting to make at least 10% instead SP went south and to make things worse the second last drilling report was not very encouraging.
The SP went to 0.07 with a good prospect to visit mid 0.06.
I would say, some of CR participants were buying in mid 0.07 to reduce their exposer.
When price hit 0.092 there was still some buying but once we went into high 0.08, some investors were only thinking to get their CR money back without thinking much of last drilling report.
Today's correction was something very beneficial for the hopefully good next announcements we expecting in December.
The next march north should not have such huge reversal as IMO many CR people have left the house happy they at least got their money back.
Many will be buying back hoping to get at 0.07+.
I sold yesterday and looking forward buying back. What price - don't know yet but will be watching every day movement.
IMO, CXO is a great stock with huge potential but we all always want to pay at the bottom. Some are very lucky and hope I will be one of them.
CXO Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
(20min delay)